Alpha DNA Investment Management LLC Acquires New Shares in Microchip Technology Incorporated (NASDAQ:MCHP)


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Alpha DNA Investment Management LLC acquired a new stake in shares of Microchip Technology Incorporated (NASDAQ:MCHP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,440 shares of the semiconductor company’s stock, valued at approximately $198,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Aristotle Capital Management LLC boosted its position in Microchip Technology by 0.7% during the 4th quarter. Aristotle Capital Management LLC now owns 8,918,202 shares of the semiconductor company’s stock valued at $1,226,113,000 after purchasing an additional 63,405 shares during the period. Norges Bank acquired a new position in Microchip Technology during the 4th quarter valued at approximately $359,336,000. Van ECK Associates Corp boosted its position in Microchip Technology by 4.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,669,104 shares of the semiconductor company’s stock valued at $171,517,000 after purchasing an additional 64,501 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Microchip Technology by 0.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,571,233 shares of the semiconductor company’s stock valued at $217,003,000 after purchasing an additional 7,032 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Microchip Technology by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,183,649 shares of the semiconductor company’s stock valued at $163,456,000 after purchasing an additional 25,388 shares during the period. Institutional investors and hedge funds own 94.10% of the company’s stock.

Shares of Microchip Technology stock opened at $159.71 on Thursday. The stock’s fifty day moving average is $152.53 and its 200-day moving average is $135.58. The firm has a market capitalization of $43.00 billion, a PE ratio of 68.25, a price-to-earnings-growth ratio of 1.74 and a beta of 1.69. The company has a quick ratio of 0.74, a current ratio of 1.07 and a debt-to-equity ratio of 1.50. Microchip Technology Incorporated has a 12-month low of $74.39 and a 12-month high of $166.67.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings results on Thursday, February 4th. The semiconductor company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.17. Microchip Technology had a return on equity of 25.02% and a net margin of 11.62%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.35 billion. Analysts expect that Microchip Technology Incorporated will post 5.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 8th. Stockholders of record on Monday, February 22nd were issued a dividend of $0.39 per share. This is an increase from Microchip Technology’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, February 19th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.98%. Microchip Technology’s payout ratio is currently 30.12%.

In other news, VP Stephen V. Drehobl sold 3,653 shares of Microchip Technology stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $159.20, for a total transaction of $581,557.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James Eric Bjornholt sold 1,433 shares of Microchip Technology stock in a transaction on Monday, February 22nd. The shares were sold at an average price of $159.20, for a total value of $228,133.60. Insiders have sold 5,586 shares of company stock worth $889,291 in the last quarter. 2.15% of the stock is currently owned by corporate insiders.

MCHP has been the topic of several recent analyst reports. Mizuho lifted their target price on Microchip Technology from $152.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, February 5th. Jefferies Financial Group lifted their target price on Microchip Technology from $179.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, February 5th. The Goldman Sachs Group lifted their target price on Microchip Technology from $133.00 to $154.00 and gave the company a “buy” rating in a research note on Monday, December 14th. Credit Suisse Group lifted their target price on Microchip Technology from $145.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, February 5th. Finally, Needham & Company LLC lifted their target price on Microchip Technology from $130.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, January 13th. Seven investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $147.44.

About Microchip Technology

Microchip Technology Incorporated develops, manufactures, and sells semiconductor products for various embedded control applications in the Americas, Europe, and Asia. The company offers general purpose and specialized 8-bit, 16-bit, and 32-bit microcontrollers; 32-bit embedded microprocessors; and microcontrollers for automotive, industrial, aerospace, office communication, and computing applications.

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Institutional Ownership by Quarter for Microchip Technology (NASDAQ:MCHP)

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